HB Wallet Team
'Smart Proof' - the first physical blockchain card that enhances the value of NFTs
Smart Proof is a physical blockchain card issued by Bacoor Inc. It aims to bring more value and assure the ownership of everything, specifically collectibles.
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In addition to the successful creation of NFT +, Bacoor Inc. has made another stride in blockchain technology with the introduction of ‘Smart Proof’, also known as Blockchain Card.
What is Smart Proof (Blockchain Card)?
Smart Proof is a physical blockchain card aspiring to push the boundaries of what digital assets could be. The card creates a solid connection between an asset and its blockchain version - an NFT, therefore, brings more value to the asset and enables users to prove their ownership via blockchain technology.
More specifically, each Smart Proof comes with an NFT that is acquirable within the blockchain. NFTs (non-fungible tokens) are built on the Ethereum blockchain using the ERC-721 standards to chronicle an asset’s ownership, approval, transfer and of course the asset’s metadata. If you are the initial owner of a Smart Proof, you can get the NFT from that card by using HB Wallet to scan the printed QR code.
The original buyer can choose to maintain ownership of both the physical and NFT version of the card, or they may choose to separate them and sell off either of the card versions.
In case you choose to sell or auction off that NFT version, the ownership will transfer to the buyer creating a new ownership chronicle on the blockchain.
How can Smart Proof be used?
Smart Proof can be implemented to enhance the value and prove the authenticity of an asset, such as trading cards and baseball cards, or event tickets that are prone to resale problems, photographs and videos that involve portrait rights and copyrights, or artworks that require authenticity verification.
Buyers or collectors can trace and verify the origin of an asset directly with the issuer via Smart Proof, without having to rely on a third party authentication institution. The authenticity of a tangible asset, for example - a sports card, can be easily validated using Smart Proof.
A sports card as a Smart Proof could include an autograph of the player and in some cases may incorporate a piece of memorabilia – which are represented in the NFT version of the card. By owning a Smart Proof, you also own the NFT version of the card.
Developers can sell Smart Proofs at local stores, or on e-commerce stores. Users can purchase them in fiat or via credit card without having to own ETH or cryptocurrencies, then scan the printed QR code on the card with HB Wallet iOS or Android to get an NFT instantly without paying for any extra fees (include Gas Fees). It's just as simple as buying a gift card on Amazon! After scanning a card, you can obtain both the NFT and the Card as your collectibles. You can sell off either of the card versions.
Smart Proof can be a great gift for participants at an event. The product was first introduced at ‘Crypto Trends 2020’, a large-scale blockchain event held by HB Wallet in Ho Chi Minh city, Vietnam. The first exclusive series of Smart Proof - Nagemon NFT Card Series - was handed to participants in the event. By scanning the QR code, they instantly owned an exclusive NFT from Nagemon and 0.003 ETH. The process does not require users to have ETH in advance.
How is it possible?
Everything is locked on a Smart Contract created by HB Wallet. Developers will send NFT, Gas Fees and rewarded ETH or Token (if applicable) to the Smart Contract. By then, everything will be self-executing as a card is scanned.
Smart Proof for Business
Bacoor Inc. is the first blockchain enterprise in the world to develop and advance the concept of Smart Proof. The product strives to bring us closer to an era where the ownership of everything become truly provable thanks to blockchain technology.
If you are interested in collaboration, do let us know and we will be happy to share and cooperate on more ideas on this product.
Company name: Bacoor Inc.
Established: February 2017
Headquarters: Malaysia (Unit Level 11 (A), MO Tower Financial Park Labuan, Malaysia)
Business: Development of applications using blockchain and smart contracts
App "HB Wallet".
Member of the Ethereum Alliance (EEA).
Named one of the top 10 blockchain-related companies in fiscal 2018 by the California IT magazine, APAC CIO Outlook Magazine.
Received "The Most Valuable Wallet Overseas Division" at "Blockchain Insight 2019".
Hosted Vietnam's large-scale blockchain event, "CRYPTO TRENDS 2020," with top players in DeFi and Dapps.
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